Defence inflation is a recurring factor in determining defence spending. It is widely reported in official government publications and in the trade press, but remains relatively neglected by defence and peace economists. In this book, international contributors from Finland, Norway, Sweden, the UK and the USA distinguish between defence inflation and cost escalation, and identify the causes of both. They use specific case studies to address a wide variety of theoretical and empirical issues and key questions, including the following: Does defence inflation affect all countries? What are its effects? Why does it occur? How (if at all) can defence inflation be controlled? While most industry and trade press devote considerable ink and space to the discussion of defence inflation, cost escalation, and their consequential impact on the purchasing dollars of the armed forces, economists have been relatively silent. This book aims to rectify this oversight through a multinational survey and analysis of the topic, while also identifying the opportunities for further theoretical and empirical research in the field. This book was originally published as a special issue of the journal Defence and Peace Economics.

An examination of how well current inflation indices and discount rates serve Department of Defense weapon-system program management.

Published each year since 1959, The Military Balance is an indispensable reference to the capabilities of armed forces across the globe. It is used by academia, the media, armed forces, the private sector and government. It is an open-source assessment of the military forces and equipment inventories of 171 countries, with accompanying defence economics and procurement data. Alongside detailed country data, The Military Balance assesses important defence issues, by region, as well as key global trends, such as in defence technology and equipment modernisation. This analysis is accompanied by full-colour graphics, including maps and illustrations. With extensive explanatory notes and reference information, The Military Balance is as straightforward to use as it is extensive. The 2022 edition is accompanied by a fullcolour wall chart illustrating security dynamics in the Arctic.

This Element introduces students, policy-makers, politicians, governments and business-people to this new discipline within economics. It presents the recent history of the subject and its range of coverage. Traditional topics covered include models of arms races, alliances, procurement and contracting, as well as personnel policies, industrial policies and disarmament. Newer areas covered include terrorism and the economics of war and conflict. A non-technical approach is used and the material will be accessible to both economists and general readers.